Minerva Foods maintains its place on Brazil’s top sustainability indexes

BRAZIL – Minerva Foods has announced its inclusion for the fifth year in a row in the Corporate Sustainability Index (ISE B3) and the Carbon Efficient Index (ICO2 B3), two of the main sustainability portfolios on Brazil’s B3 Stock Exchange.

The recognition highlights the company’s adherence to environmental, social, and governance (ESG) standards, as well as its efforts to monitor and report greenhouse gas emissions.

Assessment for the indexes includes factors such as performance in the CDP disclosure platform, independent reputational analysis, and documented ESG practices.

Minerva stated that the listing reflects its ongoing commitment to integrating sustainability and transparency into its business operations.

The company also reaffirmed its aim to pursue innovation while managing the environmental impact of its supply chain.

Uruguay acquisition remains in regulatory review

Alongside the sustainability announcement, Minerva continues to push forward with a revised acquisition proposal in Uruguay after an earlier bid was denied by local regulators.

In May, the Comisión de Promoción y Defensa de la Competencia (Coprodec) rejected the company’s attempt to acquire three Marfrig Global Foods slaughterhouses located in San José, Salto, and Colonia.

Minerva’s updated offer still seeks to purchase all three plants but includes a plan to divest the Colonia site immediately after closing the deal.

The proposed buyer for the Colonia facility is Allana Group, a company involved in halal meat and pet food production, according to Minerva’s filing.

This deal is part of a larger acquisition agreement with Marfrig, signed in 2023, involving facilities across Brazil, Argentina, Chile, and Uruguay.

The full package includes 11 processing sites and a distribution center in Brazil, in addition to the plants in Uruguay, one site in Argentina, and another in Chile, for a total estimated value of US$1.3 billion.

Approval for the Brazil, Argentina, and Chile portions of the agreement was granted in August last year by Brazil’s Administrative Council for Economic Defense (CADE), which required Minerva to sell one Brazilian facility to complete the deal.

The Uruguayan segment, valued at approximately US$117 million, remains under review.

Marfrig acknowledged Minerva’s revised submission but clarified that the resale of the Colonia plant is a separate transaction under Minerva’s control and does not alter the terms agreed in 2023.